Has anybody else out there heard this. I received an email from the Wells Short Sale department claiming they only offer up to $2,000 for closing cost credits. Is this normal? Here in California the standard offer is normally an FHA loan at listing price with a 3% credit for closing costs. Has anybody got more then 2K?

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In Arizona I just closed a $600,000 WF short sale and they claimed they could only do $2000 in closing costs as well. They would not budge on that.
its not WF policy, rather it's the investor on your particular loan.
I had a Wells Fargo approved this week...sales price $225,000 with Wells paying $6700 in buyer's closing costs. It's on my approval letter.
Are there any names I can attach to this? or possibly a copy of the approval letter with the sensitive information covered (I.E. Sellers name, account number...)
I have closed Wells Short Sales too with 3% closing costs being approved. I'm happy to send you one of my approval letters (personal info blacked out of course). It could also be a "new" policy
I received my approval letter with 3% closing costs for buyer just this week...Oct 26, 2010. Definitely not a new policy.
whatever information you are willing to send me I would greatly appreciate it.
Sure whatever you can send me would be great. Please send whatever you can to fredtenbrink@gmail.com
Ok...I'll get that to your email...it may not be until tomorrow as I have another closing this evening.
Are they referring to BUYERS closing costs? I know in FHA deals they used to limit the costs they would pay dramatically, and would only pay a little bit if the borrower was getting an FHA loan. Are they talking about the sellers costs? Thats just crazy!
This is the standard buyers asking 3% for NRCC's. The cookie cut offer terms of today.

I have the same problem as Fred they are only offering $2000 for closing costs has anybody got them to come up?


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